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Fed proposes KYC rules for select payment stablecoin issuers

1 min read
Source: Federal Reserve (.gov)
Fed proposes KYC rules for select payment stablecoin issuers
Photo: Federal Reserve (.gov)
TL;DR

The Federal Reserve Board, jointly with four other agencies, issued a proposal requiring certain payment stablecoin issuers to implement an effective customer identification program, comparable to CIP requirements for banks and credit unions, with comments due 60 days after Federal Register publication.

Topics:businessfinance#customer-identification-program#federal-reserve#finance#financial-regulation#payments#stablecoins
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  1. Federal Reserve Board requests comment on proposal to require certain payment stablecoin issuers to maintain an effective customer identification program  Federal Reserve (.gov)
  2. Fed Proposes Payment Stablecoin Issuer Identification Program  Bloomberg.com
  3. U.S. agencies seek stablecoin customer-ID rules akin to banks in new GENIUS Act rule  CoinDesk
  4. Federal Reserve rolls out proposing rulemaking requiring stablecoin issuers to maintain customer identification program  The Block
  5. Federal Reserve proposes program to identify some payment stablecoin customers (CRCL:NYSE)  Seeking Alpha

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